SRF Ltd.
•2026-08-21
ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Chemicals & Polymers Business (CPB): 49.3% • Packaging Films Business (PFB): 36.5% • Technical Textiles Business (TTB): 11.9% • Others: 2.3%
PROS
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 75.5% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.61x)
- Stock looks reasonably valued - P/E of 35.3 is below its historical median
- Company has a consistent dividend-paying track record
- Company comfortably covers its interest (9.3x coverage)
CONS
- Company has delivered a poor profit growth of 8.9% over past five years
- Stock is trading at 5.2x its book value
- Growth is decelerating - 3Y profit CAGR (-5.3%) trails the 5Y trend (8.9%)
- Though reporting repeated profits, the company pays out little dividend (14.5%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SOLARINDS | 19800.00 | 89.97 | 179170.31 | 0.06 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| 2. | PIDILITIND | 1650.00 | 63.40 | 167935.41 | 1.30 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| 3. | SRF | 2575.00 | 35.31 | 76329.39 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| 4. | FLUOROCHEM | 4679.55 | 83.59 | 51404.86 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 10.02 | 26.83 |
| 5. | NAVINFLUOR | 8281.50 | 53.80 | 42484.11 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| 6. | GODREJIND | 1217.10 | 34.87 | 40998.14 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| 7. | DEEPAKNTR | 1767.85 | 30.78 | 24112.24 | 0.42 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| 8. | AETHER | 1639.40 | 92.52 | 21759.40 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| 9. | ATUL | 6581.75 | 24.36 | 19377.83 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| 10. | AARTIIND | 526.90 | 35.99 | 19112.07 | 0.19 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.39 | 16.00 |
| 11. | DEEPAKFERT | 1474.65 | 18.98 | 18678.34 | 0.68 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| 12. | BASF | 3928.85 | 26.45 | 17006.28 | 0.64 | 360.29 | 162.22 | 4824.26 | 24.57 | 15.23 | 10.46 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,289 | 3,121 | 2,994 | 3,506 | 3,402 | 3,334 | 3,407 | 4,215 | 3,739 | 3,534 | 3,612 | 4,532 | 5,033 | |
| 2,642 | 2,551 | 2,487 | 2,874 | 2,861 | 2,886 | 2,872 | 3,356 | 2,997 | 2,866 | 2,933 | 3,589 | 4,088 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 12 | 29 | 19 | 23 | 25 | 33 | 40 | 34 | 38 | 26 | 27 | 25 | 34 |
| Interest | 66 | 79 | 67 | 90 | 97 | 94 | 96 | 89 | 80 | 71 | 66 | 62 | 69 |
| Depreciation | 157 | 161 | 169 | 186 | 188 | 194 | 194 | 195 | 203 | 212 | 217 | 220 | 223 |
| 486 | 415 | 348 | 443 | 344 | 284 | 369 | 707 | 576 | 517 | 452 | 757 | 979 | |
| Tax % | 26.04% | 27.49% | 27.24% | 4.76% | 26.68% | 28.99% | 26.48% | 25.63% | 24.92% | 24.92% | 4.21% | 23.13% | 22.50% |
| Net Profit | 0 | 0 | 0 | 0 | 252 | 201 | 271 | 526 | 432 | 388 | 433 | 582 | 759 |
| 12 | 10 | 9 | 14 | 9 | 7 | 9 | 18 | 15 | 13 | 15 | 20 | 3 | |
| Equity Capital | 296 | 206 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 |
| Reserves | 10,401 | 10,554 | 10,886 | 11,182 | 11,479 | 11,700 | 11,821 | 12,329 | 12,803 | 12,966 | 13,445 | 13,745 | 14,649 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 296 | 206 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 | 296 |
| Reserves | 10,401 | 10,554 | 10,886 | 11,182 | 11,479 | 11,700 | 11,821 | 12,329 | 12,803 | 12,966 | 13,445 | 13,745 | 14,649 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 3,289
- 2,642
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 66
- Depreciation
- 157
- 486
- Tax %
- 26.04%
- Net Profit
- 0
- 12
- Equity Capital
- 296
- Reserves
- 10,401
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 10,401
- Promoter Pledge %
- 0.00%
- 3,121
- 2,551
- Operating Profit
- —
- OPM %
- —
- Other Income
- 29
- Interest
- 79
- Depreciation
- 161
- 415
- Tax %
- 27.49%
- Net Profit
- 0
- 10
- Equity Capital
- 206
- Reserves
- 10,554
- Promoter Pledge %
- 0.00%
- Equity Capital
- 206
- Reserves
- 10,554
- Promoter Pledge %
- 0.00%
- 2,994
- 2,487
- Operating Profit
- —
- OPM %
- —
- Other Income
- 19
- Interest
- 67
- Depreciation
- 169
- 348
- Tax %
- 27.24%
- Net Profit
- 0
- 9
- Equity Capital
- 296
- Reserves
- 10,886
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 10,886
- Promoter Pledge %
- 0.00%
- 3,506
- 2,874
- Operating Profit
- —
- OPM %
- —
- Other Income
- 23
- Interest
- 90
- Depreciation
- 186
- 443
- Tax %
- 4.76%
- Net Profit
- 0
- 14
- Equity Capital
- 296
- Reserves
- 11,182
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,182
- Promoter Pledge %
- 0.00%
- 3,402
- 2,861
- Operating Profit
- —
- OPM %
- —
- Other Income
- 25
- Interest
- 97
- Depreciation
- 188
- 344
- Tax %
- 26.68%
- Net Profit
- 252
- 9
- Equity Capital
- 296
- Reserves
- 11,479
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,479
- Promoter Pledge %
- 0.00%
- 3,334
- 2,886
- Operating Profit
- —
- OPM %
- —
- Other Income
- 33
- Interest
- 94
- Depreciation
- 194
- 284
- Tax %
- 28.99%
- Net Profit
- 201
- 7
- Equity Capital
- 296
- Reserves
- 11,700
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,700
- Promoter Pledge %
- 0.00%
- 3,407
- 2,872
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 96
- Depreciation
- 194
- 369
- Tax %
- 26.48%
- Net Profit
- 271
- 9
- Equity Capital
- 296
- Reserves
- 11,821
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 11,821
- Promoter Pledge %
- 0.00%
- 4,215
- 3,356
- Operating Profit
- —
- OPM %
- —
- Other Income
- 34
- Interest
- 89
- Depreciation
- 195
- 707
- Tax %
- 25.63%
- Net Profit
- 526
- 18
- Equity Capital
- 296
- Reserves
- 12,329
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 12,329
- Promoter Pledge %
- 0.00%
- 3,739
- 2,997
- Operating Profit
- —
- OPM %
- —
- Other Income
- 38
- Interest
- 80
- Depreciation
- 203
- 576
- Tax %
- 24.92%
- Net Profit
- 432
- 15
- Equity Capital
- 296
- Reserves
- 12,803
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 12,803
- Promoter Pledge %
- 0.00%
- 3,534
- 2,866
- Operating Profit
- —
- OPM %
- —
- Other Income
- 26
- Interest
- 71
- Depreciation
- 212
- 517
- Tax %
- 24.92%
- Net Profit
- 388
- 13
- Equity Capital
- 296
- Reserves
- 12,966
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 12,966
- Promoter Pledge %
- 0.00%
- 3,612
- 2,933
- Operating Profit
- —
- OPM %
- —
- Other Income
- 27
- Interest
- 66
- Depreciation
- 217
- 452
- Tax %
- 4.21%
- Net Profit
- 433
- 15
- Equity Capital
- 296
- Reserves
- 13,445
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 13,445
- Promoter Pledge %
- 0.00%
- 4,532
- 3,589
- Operating Profit
- —
- OPM %
- —
- Other Income
- 25
- Interest
- 62
- Depreciation
- 220
- 757
- Tax %
- 23.13%
- Net Profit
- 582
- 20
- Equity Capital
- 296
- Reserves
- 13,745
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 13,745
- Promoter Pledge %
- 0.00%
- 5,033
- 4,088
- Operating Profit
- —
- OPM %
- —
- Other Income
- 34
- Interest
- 69
- Depreciation
- 223
- 979
- Tax %
- 22.50%
- Net Profit
- 759
- 3
- Equity Capital
- 296
- Reserves
- 14,649
- Promoter Pledge %
- 0.00%
- Equity Capital
- 296
- Reserves
- 14,649
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,822 | 5,589 | 7,100 | 7,209 | 8,400 | 12,434 | 14,870 | 13,139 | 14,693 | 15,787 | 16,711 | |
| 3,853 | 4,683 | 5,803 | 5,754 | 6,267 | 9,330 | 11,341 | 10,554 | 11,975 | 12,377 | 13,476 | |
| Operating Profit | 1,042 | 1,021 | 1,325 | 1,504 | 2,200 | 3,219 | 3,604 | 2,667 | 2,851 | 3,517 | — |
| OPM % | 22 | 18 | 19 | 21 | 26 | 26 | 24 | 20 | 19 | 22 | — |
| Other Income | 73 | 115 | 28 | 49 | 66 | 116 | 75 | 83 | 133 | 107 | 112 |
| Interest | 102 | 124 | 198 | 201 | 134 | 116 | 205 | 302 | 376 | 278 | 267 |
| Depreciation | 283 | 316 | 358 | 389 | 453 | 517 | 575 | 673 | 772 | 852 | 872 |
| 657 | 582 | 768 | 915 | 1,613 | 2,586 | 2,824 | 1,692 | 1,704 | 2,302 | 2,705 | |
| Tax % | 22 | 21 | 23 | -0 | 26 | 27 | 23 | 21 | 27 | 20 | 20 |
| Net Profit | 515 | 462 | 592 | 916 | 1,198 | 1,889 | 2,162 | 1,336 | 1,251 | 1,835 | 2,162 |
| EPS | 90 | 80 | 112 | 177 | 41 | 64 | 73 | 45 | 42 | 62 | — |
| Dividend Payout % | 13 | 15 | 11 | 8 | 12 | 26 | 10 | 16 | 17 | 15 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 18 | 16 | 22 | 35 | 40 | 64 | 73 | 45 | 42 | 62 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 18 | 16 | 22 | 35 | 40 | 64 | 73 | 45 | 42 | 62 | — |
- 4,822
- 3,853
- Operating Profit
- 1,042
- OPM %
- 22
- Other Income
- 73
- Interest
- 102
- Depreciation
- 283
- 657
- Tax %
- 22
- Net Profit
- 515
- EPS
- 90
- Dividend Payout %
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- 5,589
- 4,683
- Operating Profit
- 1,021
- OPM %
- 18
- Other Income
- 115
- Interest
- 124
- Depreciation
- 316
- 582
- Tax %
- 21
- Net Profit
- 462
- EPS
- 80
- Dividend Payout %
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 16
- 7,100
- 5,803
- Operating Profit
- 1,325
- OPM %
- 19
- Other Income
- 28
- Interest
- 198
- Depreciation
- 358
- 768
- Tax %
- 23
- Net Profit
- 592
- EPS
- 112
- Dividend Payout %
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 22
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 22
- 7,209
- 5,754
- Operating Profit
- 1,504
- OPM %
- 21
- Other Income
- 49
- Interest
- 201
- Depreciation
- 389
- 915
- Tax %
- -0
- Net Profit
- 916
- EPS
- 177
- Dividend Payout %
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 35
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 35
- 8,400
- 6,267
- Operating Profit
- 2,200
- OPM %
- 26
- Other Income
- 66
- Interest
- 134
- Depreciation
- 453
- 1,613
- Tax %
- 26
- Net Profit
- 1,198
- EPS
- 41
- Dividend Payout %
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
- 12,434
- 9,330
- Operating Profit
- 3,219
- OPM %
- 26
- Other Income
- 116
- Interest
- 116
- Depreciation
- 517
- 2,586
- Tax %
- 27
- Net Profit
- 1,889
- EPS
- 64
- Dividend Payout %
- 26
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 64
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 64
- 14,870
- 11,341
- Operating Profit
- 3,604
- OPM %
- 24
- Other Income
- 75
- Interest
- 205
- Depreciation
- 575
- 2,824
- Tax %
- 23
- Net Profit
- 2,162
- EPS
- 73
- Dividend Payout %
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 73
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 73
- 13,139
- 10,554
- Operating Profit
- 2,667
- OPM %
- 20
- Other Income
- 83
- Interest
- 302
- Depreciation
- 673
- 1,692
- Tax %
- 21
- Net Profit
- 1,336
- EPS
- 45
- Dividend Payout %
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 45
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 45
- 14,693
- 11,975
- Operating Profit
- 2,851
- OPM %
- 19
- Other Income
- 133
- Interest
- 376
- Depreciation
- 772
- 1,704
- Tax %
- 27
- Net Profit
- 1,251
- EPS
- 42
- Dividend Payout %
- 17
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 42
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 42
- 15,787
- 12,377
- Operating Profit
- 3,517
- OPM %
- 22
- Other Income
- 107
- Interest
- 278
- Depreciation
- 852
- 2,302
- Tax %
- 20
- Net Profit
- 1,835
- EPS
- 62
- Dividend Payout %
- 15
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 62
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 62
- 16,711
- 13,476
- Operating Profit
- —
- OPM %
- —
- Other Income
- 112
- Interest
- 267
- Depreciation
- 872
- 2,705
- Tax %
- 20
- Net Profit
- 2,162
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 13%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 16%
- 5 Years:
- 9%
- 3 Years:
- -5%
STOCK PRICE CAGR
- 10 Years:
- 23%
- 5 Years:
- 8%
- 3 Years:
- 4%
- 1 Year:
- -12%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 17%
- 3 Years:
- 12%
- Last Year:
- 14%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 57 | 57 | 57 | 57 | 59 | 296 | 296 | 296 | 296 | 296 |
| 3,124 | 3,506 | 4,070 | 4,873 | 6,794 | 8,265 | 10,018 | 11,161 | 12,301 | 13,709 | |
| 964 | 1,235 | 1,569 | 1,735 | 1,426 | 1,786 | 2,043 | 1,593 | 1,853 | 1,994 | |
| Trade Payables | 809 | 1,044 | 1,382 | 1,112 | 1,585 | 2,096 | 2,231 | 2,198 | 2,332 | 2,585 |
| 2,013 | 2,521 | 2,809 | 3,085 | 3,047 | 3,321 | 4,148 | 5,206 | 4,740 | 5,512 | |
| Total Liabilities | 6,968 | 8,363 | 9,888 | 10,862 | 12,911 | 15,765 | 18,736 | 20,454 | 21,521 | 24,097 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 4,405 | 5,122 | 5,609 | 6,368 | 7,827 | 8,425 | 10,050 | 13,242 | 13,720 | 13,926 | |
| Capital Work in Progress | 259 | 559 | 754 | 1,393 | 772 | 1,672 | 2,406 | 805 | 811 | 1,889 |
| 196 | 122 | 101 | 203 | 417 | 321 | 494 | 527 | 827 | 687 | |
| 838 | 958 | 1,225 | 1,201 | 1,466 | 2,138 | 2,274 | 2,326 | 2,349 | 2,789 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,943 | 2,169 | 2,562 | |
| Cash & Bank | 96 | 97 | 199 | 125 | 282 | 459 | 616 | 408 | 354 | 611 |
| 1,175 | 1,506 | 2,001 | 1,572 | 2,148 | 2,749 | 2,896 | 1,204 | 1,291 | 1,633 | |
| Total Assets | 6,968 | 8,363 | 9,888 | 10,862 | 12,911 | 15,765 | 18,736 | 20,454 | 21,521 | 24,097 |
| Total Debt | 2,396 | 3,142 | 3,730 | 4,047 | 3,391 | 3,539 | 4,354 | 4,920 | 4,641 | 5,004 |
| Net Working Capital | 69 | -106 | -26 | -414 | 368 | 811 | 858 | 169 | 700 | 675 |
| Contingent Liabilities | 783 | 148 | 107 | 58 | 60 | 80 | 281 | 292 | 466 | 236 |
| Book Value per Share | 554.10 | 620.60 | 718.11 | 857.82 | 1156.80 | 288.82 | 347.97 | 386.54 | 424.97 | 472.49 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 2,396 | 3,142 | 3,730 | 4,047 | 3,391 | 3,539 | 4,354 | 4,920 | 4,641 | 5,004 |
| Net Working Capital | 69 | -106 | -26 | -414 | 368 | 811 | 858 | 169 | 700 | 675 |
| Contingent Liabilities | 783 | 148 | 107 | 58 | 60 | 80 | 281 | 292 | 466 | 236 |
| Book Value per Share | 554.10 | 620.60 | 718.11 | 857.82 | 1156.80 | 288.82 | 347.97 | 386.54 | 424.97 | 472.49 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
- Equity Capital
- 57
- 3,124
- 964
- Trade Payables
- 809
- 2,013
- Total Liabilities
- 6,968
- 4,405
- Capital Work in Progress
- 259
- 196
- 838
- 0
- Cash & Bank
- 96
- 1,175
- Total Assets
- 6,968
- Total Debt
- 2,396
- Net Working Capital
- 69
- Contingent Liabilities
- 783
- Book Value per Share
- 554.10
- Face Value
- 10.00
- Total Debt
- 2,396
- Net Working Capital
- 69
- Contingent Liabilities
- 783
- Book Value per Share
- 554.10
- Face Value
- 10.00
- Equity Capital
- 57
- 3,506
- 1,235
- Trade Payables
- 1,044
- 2,521
- Total Liabilities
- 8,363
- 5,122
- Capital Work in Progress
- 559
- 122
- 958
- 0
- Cash & Bank
- 97
- 1,506
- Total Assets
- 8,363
- Total Debt
- 3,142
- Net Working Capital
- -106
- Contingent Liabilities
- 148
- Book Value per Share
- 620.60
- Face Value
- 10.00
- Total Debt
- 3,142
- Net Working Capital
- -106
- Contingent Liabilities
- 148
- Book Value per Share
- 620.60
- Face Value
- 10.00
- Equity Capital
- 57
- 4,070
- 1,569
- Trade Payables
- 1,382
- 2,809
- Total Liabilities
- 9,888
- 5,609
- Capital Work in Progress
- 754
- 101
- 1,225
- 0
- Cash & Bank
- 199
- 2,001
- Total Assets
- 9,888
- Total Debt
- 3,730
- Net Working Capital
- -26
- Contingent Liabilities
- 107
- Book Value per Share
- 718.11
- Face Value
- 10.00
- Total Debt
- 3,730
- Net Working Capital
- -26
- Contingent Liabilities
- 107
- Book Value per Share
- 718.11
- Face Value
- 10.00
- Equity Capital
- 57
- 4,873
- 1,735
- Trade Payables
- 1,112
- 3,085
- Total Liabilities
- 10,862
- 6,368
- Capital Work in Progress
- 1,393
- 203
- 1,201
- 0
- Cash & Bank
- 125
- 1,572
- Total Assets
- 10,862
- Total Debt
- 4,047
- Net Working Capital
- -414
- Contingent Liabilities
- 58
- Book Value per Share
- 857.82
- Face Value
- 10.00
- Total Debt
- 4,047
- Net Working Capital
- -414
- Contingent Liabilities
- 58
- Book Value per Share
- 857.82
- Face Value
- 10.00
- Equity Capital
- 59
- 6,794
- 1,426
- Trade Payables
- 1,585
- 3,047
- Total Liabilities
- 12,911
- 7,827
- Capital Work in Progress
- 772
- 417
- 1,466
- 0
- Cash & Bank
- 282
- 2,148
- Total Assets
- 12,911
- Total Debt
- 3,391
- Net Working Capital
- 368
- Contingent Liabilities
- 60
- Book Value per Share
- 1156.80
- Face Value
- 10.00
- Total Debt
- 3,391
- Net Working Capital
- 368
- Contingent Liabilities
- 60
- Book Value per Share
- 1156.80
- Face Value
- 10.00
- Equity Capital
- 296
- 8,265
- 1,786
- Trade Payables
- 2,096
- 3,321
- Total Liabilities
- 15,765
- 8,425
- Capital Work in Progress
- 1,672
- 321
- 2,138
- 0
- Cash & Bank
- 459
- 2,749
- Total Assets
- 15,765
- Total Debt
- 3,539
- Net Working Capital
- 811
- Contingent Liabilities
- 80
- Book Value per Share
- 288.82
- Face Value
- 10.00
- Total Debt
- 3,539
- Net Working Capital
- 811
- Contingent Liabilities
- 80
- Book Value per Share
- 288.82
- Face Value
- 10.00
- Equity Capital
- 296
- 10,018
- 2,043
- Trade Payables
- 2,231
- 4,148
- Total Liabilities
- 18,736
- 10,050
- Capital Work in Progress
- 2,406
- 494
- 2,274
- 0
- Cash & Bank
- 616
- 2,896
- Total Assets
- 18,736
- Total Debt
- 4,354
- Net Working Capital
- 858
- Contingent Liabilities
- 281
- Book Value per Share
- 347.97
- Face Value
- 10.00
- Total Debt
- 4,354
- Net Working Capital
- 858
- Contingent Liabilities
- 281
- Book Value per Share
- 347.97
- Face Value
- 10.00
- Equity Capital
- 296
- 11,161
- 1,593
- Trade Payables
- 2,198
- 5,206
- Total Liabilities
- 20,454
- 13,242
- Capital Work in Progress
- 805
- 527
- 2,326
- 1,943
- Cash & Bank
- 408
- 1,204
- Total Assets
- 20,454
- Total Debt
- 4,920
- Net Working Capital
- 169
- Contingent Liabilities
- 292
- Book Value per Share
- 386.54
- Face Value
- 10.00
- Total Debt
- 4,920
- Net Working Capital
- 169
- Contingent Liabilities
- 292
- Book Value per Share
- 386.54
- Face Value
- 10.00
- Equity Capital
- 296
- 12,301
- 1,853
- Trade Payables
- 2,332
- 4,740
- Total Liabilities
- 21,521
- 13,720
- Capital Work in Progress
- 811
- 827
- 2,349
- 2,169
- Cash & Bank
- 354
- 1,291
- Total Assets
- 21,521
- Total Debt
- 4,641
- Net Working Capital
- 700
- Contingent Liabilities
- 466
- Book Value per Share
- 424.97
- Face Value
- 10.00
- Total Debt
- 4,641
- Net Working Capital
- 700
- Contingent Liabilities
- 466
- Book Value per Share
- 424.97
- Face Value
- 10.00
- Equity Capital
- 296
- 13,709
- 1,994
- Trade Payables
- 2,585
- 5,512
- Total Liabilities
- 24,097
- 13,926
- Capital Work in Progress
- 1,889
- 687
- 2,789
- 2,562
- Cash & Bank
- 611
- 1,633
- Total Assets
- 24,097
- Total Debt
- 5,004
- Net Working Capital
- 675
- Contingent Liabilities
- 236
- Book Value per Share
- 472.49
- Face Value
- 10.00
- Total Debt
- 5,004
- Net Working Capital
- 675
- Contingent Liabilities
- 236
- Book Value per Share
- 472.49
- Face Value
- 10.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 645 | 678 | 896 | 1,304 | 1,772 | 2,106 | 2,902 | 2,094 | 2,487 | 2,554 | |
| Cash from Investing | -613 | -1,195 | -1,014 | -1,180 | -1,500 | -1,588 | -2,961 | -2,227 | -1,484 | -1,598 |
| Cash from Financing | -284 | 495 | 246 | -199 | -251 | -207 | 220 | -72 | -1,071 | -708 |
| -252 | -22 | 127 | -75 | 21 | 311 | 160 | -205 | -67 | 247 | |
| Free Cash Flow | -77 | -652 | -143 | -439 | 478 | 162 | 5 | -107 | 1,220 | 372 |
| OCF / Net Profit | 1.25 | 1.47 | 1.51 | 1.42 | 1.48 | 1.11 | 1.34 | 1.57 | 1.99 | 1.39 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -834 | -594 | 63 | 99 | 1,758 | 1,652 |
| OCF / Net Profit | 1.25 | 1.47 | 1.51 | 1.42 | 1.48 | 1.11 | 1.34 | 1.57 | 1.99 | 1.39 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -834 | -594 | 63 | 99 | 1,758 | 1,652 |
- 645
- Cash from Investing
- -613
- Cash from Financing
- -284
- -252
- Free Cash Flow
- -77
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.25
- Cumulative 5-Year FCF
- 0
- 678
- Cash from Investing
- -1,195
- Cash from Financing
- 495
- -22
- Free Cash Flow
- -652
- OCF / Net Profit
- 1.47
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.47
- Cumulative 5-Year FCF
- 0
- 896
- Cash from Investing
- -1,014
- Cash from Financing
- 246
- 127
- Free Cash Flow
- -143
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.51
- Cumulative 5-Year FCF
- 0
- 1,304
- Cash from Investing
- -1,180
- Cash from Financing
- -199
- -75
- Free Cash Flow
- -439
- OCF / Net Profit
- 1.42
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.42
- Cumulative 5-Year FCF
- 0
- 1,772
- Cash from Investing
- -1,500
- Cash from Financing
- -251
- 21
- Free Cash Flow
- 478
- OCF / Net Profit
- 1.48
- Cumulative 5-Year FCF
- -834
- OCF / Net Profit
- 1.48
- Cumulative 5-Year FCF
- -834
- 2,106
- Cash from Investing
- -1,588
- Cash from Financing
- -207
- 311
- Free Cash Flow
- 162
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- -594
- OCF / Net Profit
- 1.11
- Cumulative 5-Year FCF
- -594
- 2,902
- Cash from Investing
- -2,961
- Cash from Financing
- 220
- 160
- Free Cash Flow
- 5
- OCF / Net Profit
- 1.34
- Cumulative 5-Year FCF
- 63
- OCF / Net Profit
- 1.34
- Cumulative 5-Year FCF
- 63
- 2,094
- Cash from Investing
- -2,227
- Cash from Financing
- -72
- -205
- Free Cash Flow
- -107
- OCF / Net Profit
- 1.57
- Cumulative 5-Year FCF
- 99
- OCF / Net Profit
- 1.57
- Cumulative 5-Year FCF
- 99
- 2,487
- Cash from Investing
- -1,484
- Cash from Financing
- -1,071
- -67
- Free Cash Flow
- 1,220
- OCF / Net Profit
- 1.99
- Cumulative 5-Year FCF
- 1,758
- OCF / Net Profit
- 1.99
- Cumulative 5-Year FCF
- 1,758
- 2,554
- Cash from Investing
- -1,598
- Cash from Financing
- -708
- 247
- Free Cash Flow
- 372
- OCF / Net Profit
- 1.39
- Cumulative 5-Year FCF
- 1,652
- OCF / Net Profit
- 1.39
- Cumulative 5-Year FCF
- 1,652
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 89.69 | 80.41 | 111.63 | 177.29 | 202.22 | 63.72 | 72.95 | 45.06 | 42.20 | 61.91 |
| Book Value (₹) | 554.10 | 620.60 | 718.11 | 857.82 | 1156.80 | 288.82 | 347.97 | 386.54 | 424.97 | 472.49 |
| Dividend per Share (₹) | 12.00 | 12.00 | 12.00 | 14.00 | 24.00 | 16.75 | 7.20 | 7.20 | 7.20 | 9.00 |
| Cash EPS (₹) | 27.81 | 27.08 | 33.05 | 45.39 | 55.75 | 81.17 | 92.36 | 67.75 | 68.22 | 90.66 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 20.29% | 17.64% | 19.01% | 20.57% | 25.75% | 25.66% | 23.91% | 19.24% | 18.21% | 21.21% |
| Net Margin % | 10.03% | 7.97% | 8.49% | 12.53% | 14.03% | 15.06% | 14.35% | 9.94% | 8.38% | 11.41% |
| ROE % | 17.33% | 13.69% | 15.38% | 20.22% | 20.34% | 24.51% | 22.91% | 12.27% | 10.40% | 13.80% |
| ROCE % | 13.98% | 11.49% | 13.27% | 13.25% | 18.17% | 24.17% | 22.62% | 12.83% | 12.35% | 14.21% |
| 7.69% | 6.02% | 6.48% | 8.83% | 10.08% | 13.17% | 12.53% | 6.82% | 5.96% | 8.05% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 42 | 42 | 45 | 48 | 46 | 45 | 43 | 51 | 50 | 54 |
| Inventory Days | 54 | 57 | 57 | 61 | 57 | 52 | 53 | 63 | 57 | 58 |
| Payable Days | 92 | 112 | 105 | 112 | 112 | 94 | 80 | 86 | 77 | 70 |
| 3 | -13 | -3 | -3 | -9 | 3 | 16 | 27 | 31 | 42 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.75x | 0.88x | 0.90x | 0.82x | 0.49x | 0.41x | 0.42x | 0.43x | 0.37x | 0.36x |
| Interest Coverage (x) | 7.46x | 5.70x | 4.87x | 5.56x | 13.04x | 23.30x | 14.79x | 6.60x | 5.53x | 9.28x |
| 1.03x | 0.96x | 0.99x | 0.87x | 1.10x | 1.18x | 1.17x | 1.03x | 1.13x | 1.10x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 4.99% | 15.91% | 27.03% | 1.55% | 16.51% | 48.02% | 19.60% | -11.65% | 11.83% | 7.44% |
| Operating Profit Growth % | 5.25% | -2.02% | 29.73% | 13.51% | 46.26% | 46.33% | 11.97% | -26.00% | 6.90% | 23.34% |
| Net Profit Growth % | 19.80% | -10.35% | 28.13% | 54.82% | 30.83% | 57.64% | 14.47% | -38.23% | -6.36% | 46.72% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -38.23% | -6.36% | 46.72% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 56.76x | 69.66x | 39.37x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.62x | 6.92x | 5.16x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.28% | 0.24% | 0.37% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 30.12x | 32.06x | 21.79x |
- EPS (₹)
- 89.69
- Book Value (₹)
- 554.10
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 27.81
- Operating Margin %
- 20.29%
- Net Margin %
- 10.03%
- ROE %
- 17.33%
- ROCE %
- 13.98%
- 7.69%
- Debtor Days
- 42
- Inventory Days
- 54
- Payable Days
- 92
- 3
- Debt to Equity (x)
- 0.75x
- Interest Coverage (x)
- 7.46x
- 1.03x
- Revenue Growth %
- 4.99%
- Operating Profit Growth %
- 5.25%
- Net Profit Growth %
- 19.80%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 80.41
- Book Value (₹)
- 620.60
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 27.08
- Operating Margin %
- 17.64%
- Net Margin %
- 7.97%
- ROE %
- 13.69%
- ROCE %
- 11.49%
- 6.02%
- Debtor Days
- 42
- Inventory Days
- 57
- Payable Days
- 112
- -13
- Debt to Equity (x)
- 0.88x
- Interest Coverage (x)
- 5.70x
- 0.96x
- Revenue Growth %
- 15.91%
- Operating Profit Growth %
- -2.02%
- Net Profit Growth %
- -10.35%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 111.63
- Book Value (₹)
- 718.11
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 33.05
- Operating Margin %
- 19.01%
- Net Margin %
- 8.49%
- ROE %
- 15.38%
- ROCE %
- 13.27%
- 6.48%
- Debtor Days
- 45
- Inventory Days
- 57
- Payable Days
- 105
- -3
- Debt to Equity (x)
- 0.90x
- Interest Coverage (x)
- 4.87x
- 0.99x
- Revenue Growth %
- 27.03%
- Operating Profit Growth %
- 29.73%
- Net Profit Growth %
- 28.13%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 177.29
- Book Value (₹)
- 857.82
- Dividend per Share (₹)
- 14.00
- Cash EPS (₹)
- 45.39
- Operating Margin %
- 20.57%
- Net Margin %
- 12.53%
- ROE %
- 20.22%
- ROCE %
- 13.25%
- 8.83%
- Debtor Days
- 48
- Inventory Days
- 61
- Payable Days
- 112
- -3
- Debt to Equity (x)
- 0.82x
- Interest Coverage (x)
- 5.56x
- 0.87x
- Revenue Growth %
- 1.55%
- Operating Profit Growth %
- 13.51%
- Net Profit Growth %
- 54.82%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 202.22
- Book Value (₹)
- 1156.80
- Dividend per Share (₹)
- 24.00
- Cash EPS (₹)
- 55.75
- Operating Margin %
- 25.75%
- Net Margin %
- 14.03%
- ROE %
- 20.34%
- ROCE %
- 18.17%
- 10.08%
- Debtor Days
- 46
- Inventory Days
- 57
- Payable Days
- 112
- -9
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 13.04x
- 1.10x
- Revenue Growth %
- 16.51%
- Operating Profit Growth %
- 46.26%
- Net Profit Growth %
- 30.83%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 63.72
- Book Value (₹)
- 288.82
- Dividend per Share (₹)
- 16.75
- Cash EPS (₹)
- 81.17
- Operating Margin %
- 25.66%
- Net Margin %
- 15.06%
- ROE %
- 24.51%
- ROCE %
- 24.17%
- 13.17%
- Debtor Days
- 45
- Inventory Days
- 52
- Payable Days
- 94
- 3
- Debt to Equity (x)
- 0.41x
- Interest Coverage (x)
- 23.30x
- 1.18x
- Revenue Growth %
- 48.02%
- Operating Profit Growth %
- 46.33%
- Net Profit Growth %
- 57.64%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 72.95
- Book Value (₹)
- 347.97
- Dividend per Share (₹)
- 7.20
- Cash EPS (₹)
- 92.36
- Operating Margin %
- 23.91%
- Net Margin %
- 14.35%
- ROE %
- 22.91%
- ROCE %
- 22.62%
- 12.53%
- Debtor Days
- 43
- Inventory Days
- 53
- Payable Days
- 80
- 16
- Debt to Equity (x)
- 0.42x
- Interest Coverage (x)
- 14.79x
- 1.17x
- Revenue Growth %
- 19.60%
- Operating Profit Growth %
- 11.97%
- Net Profit Growth %
- 14.47%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 45.06
- Book Value (₹)
- 386.54
- Dividend per Share (₹)
- 7.20
- Cash EPS (₹)
- 67.75
- Operating Margin %
- 19.24%
- Net Margin %
- 9.94%
- ROE %
- 12.27%
- ROCE %
- 12.83%
- 6.82%
- Debtor Days
- 51
- Inventory Days
- 63
- Payable Days
- 86
- 27
- Debt to Equity (x)
- 0.43x
- Interest Coverage (x)
- 6.60x
- 1.03x
- Revenue Growth %
- -11.65%
- Operating Profit Growth %
- -26.00%
- Net Profit Growth %
- -38.23%
- -38.23%
- P/E (x)
- 56.76x
- P/B (x)
- 6.62x
- Dividend Yield %
- 0.28%
- 30.12x
- EPS (₹)
- 42.20
- Book Value (₹)
- 424.97
- Dividend per Share (₹)
- 7.20
- Cash EPS (₹)
- 68.22
- Operating Margin %
- 18.21%
- Net Margin %
- 8.38%
- ROE %
- 10.40%
- ROCE %
- 12.35%
- 5.96%
- Debtor Days
- 50
- Inventory Days
- 57
- Payable Days
- 77
- 31
- Debt to Equity (x)
- 0.37x
- Interest Coverage (x)
- 5.53x
- 1.13x
- Revenue Growth %
- 11.83%
- Operating Profit Growth %
- 6.90%
- Net Profit Growth %
- -6.36%
- -6.36%
- P/E (x)
- 69.66x
- P/B (x)
- 6.92x
- Dividend Yield %
- 0.24%
- 32.06x
- EPS (₹)
- 61.91
- Book Value (₹)
- 472.49
- Dividend per Share (₹)
- 9.00
- Cash EPS (₹)
- 90.66
- Operating Margin %
- 21.21%
- Net Margin %
- 11.41%
- ROE %
- 13.80%
- ROCE %
- 14.21%
- 8.05%
- Debtor Days
- 54
- Inventory Days
- 58
- Payable Days
- 70
- 42
- Debt to Equity (x)
- 0.36x
- Interest Coverage (x)
- 9.28x
- 1.10x
- Revenue Growth %
- 7.44%
- Operating Profit Growth %
- 23.34%
- Net Profit Growth %
- 46.72%
- 46.72%
- P/E (x)
- 39.37x
- P/B (x)
- 5.16x
- Dividend Yield %
- 0.37%
- 21.79x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-07-29 - SRF Limited has informed the Exchange about Transcript
- Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-27 - SRF Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jul 2026
May 2026
Jan 2026

